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UAE Based Du Posts 12 Percent Rise in Quarterly Revenues

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The UAE based Du (Emirates Integrated Telecommunications Company) has reported that its second quarter revenues rose by 12 percent over the year to reach AED 2.66 billion (USD724 million), while net profits were up by 46 percent to AED 474 million (USD129 million).

Mobile revenue increased 13.33% year on year, while mobile data revenues rose by 44.8 percent.

The mobile customer base rose by 16% to end the period at 6.65 million, while the landline base rose by 5.7% to 578 thousand customers.

Du estimates its mobile market share is now 46.5%.

Osman Sultan, du's Chief Executive Officer, said "Thanks to further progress made during the first half of this year in our key areas of strategic focus - market leading products and services and driving cost efficiencies through our business -- we have achieved good growth in revenues and profits and our margins remain strong."

The company is making a special dividend payment to its shareholders of AED 1 billion.

The company ended the period with AED 2.8 billion in cash.

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Tags: du  United Arab Emirates